so i have been meeting up with a friend of mine who is a very successful trader and it looks like we are almost definately going to start our own firm this summer. we are going to meet another time to plan things out and make sure we both really want the same things, then meeting 3 involves lawyers and setting everything up, likely signing an office space lease as early as by the end of march. our goal is to start with up to 10 employees, and train them to do what we do- i am a bond futures daytrader and he does more stocks / S&P trading. we already have 5 of the spots full of "for sures" 1 being my friend and 4 my buddy knows, but my cousin may join for a 6th leaving 4 spots left. is there any legitimate interest here, because if so we should set up a time to meet so i can figure out if i think you have a good shot at succeeding at this or if it would be a waste of both our times and my money. basically we'd be putting you in a position where if you are as good as my friend and i you coule easily be making well over 1m by your 3rd year. ok, i can give more details about what is going on later, but i think generally speaking it'd prolly be about 30k/yr + commission with no ceiling, likely have some benefits but we still haven't talked about it. trading is the greatest job you can possibly have, but it all boils down to who you learn from, it is hard to surpass your teacher... both my friend and i could be in the top 5 of this list if we wanted the recognition- i might do it in august so that recruiting is easier, my buddy says keeping a low profile is prolly more important- the whole blackrock deal don't need to draw to much attention to our industry or they might make laws so we don't make as much money train of thought

61 Replies to atleast 75/25 its gonna happen- who's in?

3 things i think that helped me become good are the hobbies i had growing up. started off playing magic (mainly control deck which i think is more fitting to the psychology of trading) then moved on to d2 (hardcore teaches the value of losing) and then poker (partial information strategy)- so if any of you guys were good at all three things as well i def think that you would have a better chance than most at succeeding at this job.

DM I wish my double major had something to do with what you are starting.. I am a sociology / criminal justice double major, and I am done this summer.. I wish I knew more about the whole stock exchange, but I wish you the best of luck bro.

I am very interested. I can have my Series 7 license in no time. We actually teach the class in my office. Give me a call at 410-766-5855 (office phone) or 1-800-777-0490 if you don't like long distance.

I forgot; when you call, ask for Joseph Miles or Joe. I can recruit a ton of people. We have 35+ Life&Health agents per week, 50+ Property&Casualty per month and about 30 per month who come for either Series 6,63, 65 and 7. We get about 100 per month who need Continuing Education.

All pre-licensing and a lot of them are looking for jobs. You should definitely give me a call.

I might be interested, the thing is though, there are trader jobs where I live so I don't know if it would be worth the time and effort to move to the states, and worry about finding a place to live in, etc.

Im actually in some active job search at the moment, but I am trying to get a banking job and in the mean time probably going to start studying for Level 2 CFA exam.

ok guys i'm not sure what details you need that i can give right now but i'll guess on both parts for now. 1st off- exact pay / benefits i won't know until i hammer that out and i'll post once i know that stuff. as far as what we do i've posted that before (www.diablozone.com . . .) when i was looking for interest and if i ever get a good adobe i'll edit out the account info from one of my statements so you guys can see i'm legitimately making bank. best thing really would be if any of you guys are near chicago have one of you come check my setup out one day and then they can back me up. and the numbers you might ask for (ie how much $ in your margin account) isn't really as important because i've averaged for over the past 18 months returning better than 100% each month- i'm leaving my firm because they keep paying me out rather than leaving the money in the margin account to grow my trading size- i'd rather not get paid and click w/more contracts.

My main concern would be benefits.. I could take a pay cut if this is commission based. If this becomes serious I'll send you my resume and we could chat.

Just want to note that I don't have a Series 7 and haven't done trading but I can explain to you what I do if you'd like. Or just check out my company's website. But in an extreme brief summary I do arbitrage calculations for municipal bonds.

Yea, we are just south of Baltimore in Glen Burnie. 410-766-5855; we have some of the best companies for all lines of insurance. We are located at the top of Empire Towers with a pretty big office space. We write in MD, DC, VA, PA, WV and DE.

Give me a call; I'll hook you up. Also, if you need a job, call me. We have a great Medicare / Life Insurance program where people are making about 1600 per week. It is really simple.

well two things, A- i'll already trying to be playing at the 100k / day swing level even with bankrolling you all so i feel that's enough risk for now for me, and as far as liquidity goes i can't see opportunity to make more than 200/250 a day but you know when i get bigger maybe i'll change my mind. as for office we are planning on lookin for one late march prolly and are currently thinking it'll be in the japonnais building downtown as there are already a few trading firms there because there is something with the layout of the city that that building just happens to be on a giant hub so it has the fastest internet in the city.

o and statement wise you are totally right with the scan thing except i don't have a printer or even pens or pencils at my house if my gf isn't here- i'll print one off at her house tho next time i'm there tho good idea.

o and as far as margins goes- for what i trade since i just do spreads and never hold on to anything- your "margin requirement" is related to how much you can make or lose in any given day based on the size you are trading, and as a general rule of thumb would be about 4x that number- then the clearing firm feels comfortable that you aren't going to lose everything in one day and thats all they care about for my class of trader. so if you think about it, if you were trying to make 5k a day, you could prolly do that on as little as about 25-30k in an account and that would be 1m dollars / yr in p&l if you could average it. hope that helps explain why margin req for you guys just starting out isn't an issue (also why i'm partnering up with buddy as he's been trading longer than i have so he has more $ than me) -- also helps explain why i'm leaving like i typed before, since august i've made well over 100% / month returns on my "margin account" but my bosses just pay me out everything and haven't increased my size enough. so i'm leaving because i'd just leave more money in my margin account and increase my size as quickly as i think i reasonably can.

if you can access your statements online you don't need to print them, use the Print Screen button on keyboard to take screenshot just like in D2 and paste it in Paint and edit it

if you only have it on paper you're gonna have to use a scanner to scan it into computer as an image

do you know how the whole working visa for non US citizens works? Since I'm a Canadian citizen I don't think I am allowed to work in US unless my potential employer provides me with a working visa, just a thought for you... I'm not saying I'm 100% certain I would be up for this job but if I was then I definatly would require a working permit